Under the local government tax, the following are levied by provinces except:

Statement 1: Real properties are categorized into residential, agricultural, commercial, industrial minerals, apparently for the purpose of fixing proportionately higher assessment levels for properties put into more productive use. Statement 2: Cities do not levy all taxes, fees and charges that may be imposed by the province or municipality, however, those levied by highly urbanized cities and independent component cities accrua exclusively to them.

It prescribes the preparation of the statement of income and expenditures in accordance with its mandate to maintain financial information on all LGUS.

It focuses on serving the primary needs and protecting the rights of women, children, the elderly, persons with disability, indigenous communities and informal settlers

It is usually a response to demands for more local origin, regional autonomy to which government officials in the central government reluctantly accedes.

While tax rates were increased and the sharing schemes between And among different levels of local governments were readjusted. There actually was no new taxing power devolved.

We're expect local governments in addressing their local concerns with this principle because they have superior competence they know best.

They increase share for brown guys with encourage them to exert more tax collection effort, and the lifting of real property tax exemptions of government corporations may collide with the Government of encouraging Corporations to engage in exploration of alternative sources of energy.

.The use of this technology has been time and again recommended to improve the tax inform system, but not many LGUs have acquired the technology to employ the technique.

It refers to a public management strategy and often decided top down and is a strategy ____ the head Offices capacity to achieve proposed objectives.

It sets the standards for critical preparations for all type of disasters and __________ Effects of calamities to the community.

As of 2020. There were 81 provinces, 146 cities 1488 municipalities_______ In the Philippines.

The president has direct control on the administrative Divisions as_____

Provinces are composed of the different town and cities within them

National Planning shall be based on local planning to ensure that the needs and aspirations of the people as articulated by the local government units in their respective local development plans are considered in the formulation of budgets of national line agencies or offices

The mayor shall provide for regional development councils or other similar bodies composed of local government officials, regional heads of department, and other government offices, and representatives from non governmental organizations withing the regions of purposes of administrative decentralization to strengthen the autonomy of the units therein and to accelerate the economic and social growth and development of the units in the region

Local governments owe their existence to Congress and they are placed under the gene supervision of the President. More importantly, they only wield powers delegated to them by the national Government.

This serves as the primary planning and implementing unit of government policies, plans, programs, projects, and activities in the community, and as a forum wherein the collective views of the people may be expressed, crystallized, and considered, and where disputes may be amicably settled.

It is the agency of the government that is responsible for the efficient and sound utilization of government funds and revenues who effectively achieve our country's development objectives.

This requires the Executive to implement the enacted Budget faithfully, and that the COA, and the citizens are able to scrutinize how public funds are spent

. It is a self-diagnostic tool that allows the local government units to determine the weaknesses in their public financial management systems.

Its objective is to make local government units more effective partners of the national government in attaining national goals.

This is exercise by the President to ensure that the LGUS (local government units) acts are within the scope of their prescribed powers and functions. However, he cannot reverse nor modify any act of the local governments as long as it is within legal limits

It refers to public and private monies which officially come into possession of the local government or of its official as trustee, or that which are received as guarantee for fulfillment of an obligation.

The phases in the local budget process of local government units.

Local goverments are entitled to a 40% share of the government's collection from mining taxes, royalties, forestry and fishery charges and other charges on, and co-production agreements of, national wealth within their territories.

Public expenditure accounts for a large share of aggregate demand Differently from revenue, government spending is tightly intertwined with policy decisions. -

All procurement should be within the approved budget of the procuring entity and should be meticulously and judiciously planned by the procuring entity concerned.

No government procurement shall be undertaken unless it is in accordance with an approved Annual Investment Plan

The demand for government services is positively influenced by per capita income and wealth.

Expenditures for debt burden are those that go into the servicing of the government's regular and assumed debts from domestic and foreign sources, including interest payments.

Where government expands its fiscal operations partly due to disturbance and partly to expand economic activity and take up new functions that were earlier neglected.

Factors affecting the demand side of public expenditure activities are as follows, except:

. Includes the acquisition of furniture and equipment normally used in the conduct of government operations and for temporary construction of promotional research and similar purposes

Covers agriculture and natural resources, industry. and tourism, utilities, and infrastructures

Covers those of education, public health and medical care, housing and community amenities, social service & welfare, and other social service expenditures not classified elsewhere.

Includes all general administration expenses (inclusive of allotments to local governments), administration of justice, pension, gratuities, contribution to international organizations, public order and safety, general research, and other general public services

This refers to the advances by the national government for the services of government-guaranteed corporate debt, net of repayments on such advances, during the year. It includes loan outlays or proceeds from national government program loans relent to GOCCS

This refers to the sum of principal repayments for loans payable by regular installments and annual contribution to the debt sinking fund for debts payable upon maturity.

It is available for any purpose to which the legislative body may choose to apply it and is composed of the receipts or revenue which are not by law or by contractual agreement applicable to a specific purpose or purposes.

.It is known as the law of increasing state spending. This theory holds that for any country, public expenditure rises constantly as income growth expands

The BAC shall have the following invitation to bid, conduct pre-procurement and pre-bid conferences, determine the eligibility of prospective bidders, receive bids, conduct the evaluation of bids, undertake post-qualification proceedings, recommend award of contracts to the Head…

A cause of increase in public expenditure which requires the government to expand its administrative activities (like defense, police, and judiciary)

.It is the fund arising from bonds floated by the government for a specific purpose such as permanent public improvements

Various socio-economic programmes are undertaken to promote people's safety.

Where the strategy of development was heavily dependent on foreign capital.

It refers to budget for the contract duly approved by the Head of the Procuring Entity.

Where increased in financial deficits occurred due to decrease in tax effort and repayment of debt to contractors and suppliers

Where bidding process treats bidders equitably and provides fair grounds for competition among themselves. thereby ensuring that no single bidder significantly influences the outcome of the bidding

Where both the public officials directly or indirectly involved in the procurement process as well as in the implementation of procurement contracts, and the private parties that deal with government are, when warranted by circumstances, investigated and held liable for their actions relative thereto

.It is a consolidation of all Procurement Project Management Plans (PPMP) for a procuring entity that is scheduled for procurement for a calendar year

These are funds obtained from repayable including loans secured by the government from financial institutions and other sources, both domestic and foreign to finance development projects and/ or budget support

These are collected from sources other than compulsory tax levies such as Bureau of Treasury’s income dividends, fees, and charges. Marcos wealth, privatization proceeds, and foreign grants.

It occurs when the borrowings, net of maturing payments, are short of the deficit.

It refers to the gap between revenues and total expenditures, are prerequisites to accumulating public debt.

The government borrow only during deficits.

These are several ways of financing expenditures gaps, except;

A budget surplus is equal to zero debt.

The income stream is affected by adding to the purchasing power of the nation in the form of relief, wages and outright grants, payments for purchases of materials employed in construction undertakings, and extensions of government loans

.It is actually a deficit spending scheme resorted to by the government offset the inadequacies in private spending during periods of falling prices and rising unemployment

In the occurrence of debt, the following are taken into account the following, except

.It involves budget balance over a long period of time, with high taxes and surpluses to curb excessive booms and larger expenditures and deficits to arrest deflation.

The interest and principal payments of national government domestic and foreign loans including advances made to service guaranteed debts of state enterprises.

When a debt nation suspends debt payments but declares itself willing to continue paying some time in the future

.The refusal to recognize a debt obligation. It is essentially a unilateral action on the part of the debtor.

The process whereby debtor countries seek relief from its debt payment obligations through revision in the terms of the original loan agreements and/or postponement of the dates which payments are to be made

The interest payments and principal amortization on the Philippine debt.

The conversion of debt into bonds or securities. It binds the debtor to paying the debt at some future

Borrowings can also be used explicitly for public investment purposes, not just for deficit financing.

It is a refinancing deal in which a debt holder gets an equity position in exchange for the cancellation of the debt

.It is defined as the sum of principle repayments and interest paid in currency, products, or services on long-term debt, interest paid on short-term debt, and IMF repayments.

He endorsed this theory which entails the deficit financing and an unbalanced budget. He believed that borrowing is a valuable fiscal tool for achieving economic stability.

According to Dr. Guerrero, a historian, an internal national loan bill of P20 million (Mexican pesos) was made by Elpidio Quirino

This government faces the problem that has plagued the Philippines since independence: how to achieve self-sustaining output, wage, and employment growth. It has continued the trade liberalization program that was interrupted by the debt crisis, although against heavy domestic opposition.

.Over the last six years, this administration has implemented a comprehensive tax reform program tha includes a combination of new and higher consumption taxes, as well as lower personal and corporate income taxes and improved tax administration.

The following are the set three priorities of 2022 national budget, except:

It is mandated by the Constitution, this document contains macroeconomics assumptions, "IS public sector context, breakdown of the expenditures and funding sources for the budget year, the current and the previous years.

___ was a budgeting mechanism launched by the Department of Budget and Management ______ National Budget Circular No. 541. It was introduced in 2011, by the Aquino administration, as a reform intervention to speed-up public spending and to boost economic

This is common. The mentality "baka makalusot," is pathetic even to the straining revenue-nil.s position of the government. This "indiscretion" continues to waste time, money and effort in budget preparation.

It is a demand-driven budget-planning process which institutionalizes people's participation in the budget process to gain a better understanding of their needs and requirements, and ensure that_____ -

The following are descriptions of this administration's performance concerning the national budget (Papasin, 2017):
● "Daang Matuwid'" - Ituloy ang Paggugol na Matuwid
● Budget for Inclusive Development
● Passed the Budget on time for six consecutive years
● Budget reaffirms the belief that no one should be left behind as the country progresses.
● To link budgets to agency performance through Performance-informed Budgeting

This highlights the importance or oufcomes and sees expenditures as a means to produce outputs which are needed to achieve desired outcomes. Hence, this focuses on desired outputs and outcomes and the right processes, rules and incentives to achieve them.

The passage of this Act, formally launched the establishment of performance budgeting in the Philippines. This required that the whole budgetary concept be based on a triad of functions, projects, and activities defined in terms of expected results. This also directed the modernization of the accounting system.

0. It is a legal document approved by the legislature and gives authority to the executive to incur certain expenditures and to levy taxes.

This is committed to actively formulate programs in fulfillment of societal balance necessary for the good life. It is established and sustained according to its performance in preserving the public interest (underscoring supplied) and dedication to the cause of public service.

Its role is primarily to review and approve the macroeconomic targets, revenue projections, borrowing level, aggregate budget level and expenditure priorities and recommend to the Cabinet and the President of the consolidated public sector financial position and the national government fiscal program

The term "budget" may be traced back to the Middle English word bowgette, derived from Middle French word bouget, diminutive of bouge leather bag, which, in turn, was derived from the Latin bulga, meaning bag or purse. The bouget was used by the King's treasurer, the exchequer, to carry documents explaining the king's fiscal needs. In 1961, this American economist, arrived at a definition of budget

Most of the budget is a product of previous decisions. Many items in the budget are standard and are simply reenacted every year unless there is a special reason to challenge them

involves the determination of the overal budget priorities and direction, issuance of the budget call so that each agency can formulate their own budget proposal.

Where the budget bill is read in full discussed in detail, subject to deliberation, individual amendments, and debate. -

In case the President vetoes the GAA, or any of its items; he must send his veto message to the House of Representatives. The Congress can override the veto gathering one-third vote in each House.

It is a comprehensive authority issued to all national government agencies, in general, to incur obligations not exceeding an authorized amount during a specified period for the purpose indicated therein

it puts emphasis on control to keep the expenditure within the levels and ceilings determined

Whenever the two houses do not favourably vote upon the bill, it goes back in here until a compromise version is accepted. -

This shall lead public expenditure management to ensure the equitable, prudent, trans-parent and accountable allocation and use of public funds to improve the quality of life of each and every Filipino.

It is issued to the heads of agencies, departments, bureaus, and offices of the national Ivobar government containing the macroeconomic parameters, broad policy guidelines, budget preparation schedule, instructions for developing requests, and overall priority direction to be followed by all pbi government spending agencies.

This refers to the Congressional review and enactment into law of the budget proposal. It involves three stages:

During the downturn, for instance, this would involve not only automatic reductions in tax revenues as individuals slide down to lower income brackets, but also automatic reductions in tax rates. In essence, this is a system of counter-cyclical variations in tax rates, on the one hand, and in government expenditures, on the other hand, with these variations automatically going into effect when certain designated indices rise or fall to specified levels

This policy attempts to fit the budget to the changes in the business cycle. When the national income and employment are expected to fall, this calls for a combination of expenditure increases and tax reductions in the amount necessary to avoid or minimize instability or to reverse the wor downtrend

The managed compensatory budget program

The budget should be executed as enacted. There should be no cavalier changes made during the budget year.

Where the whole budget is justified anew

In the Philippines, line-item budgeting in government was adopted through the enactment of this Act. This type of budgeting provided an administrative control of costs of inputs to government activities and projects.

. As a political tool, it is a means to get things done; to control spending of public funds in prioritize competing claims over scarce government resources

Is one of the three constitutional commissions which performs a very significant role in the overall evaluation of governmental operations in terms of financial compliance, economy and efficiency, and program result or effectiveness. -

COA is mandated to prescribe this to be observed by government agencies in the management of their financial operations and as bases in the review and appraisal of such operations. -

It is an evaluation of the extent to which the agency has complied with pertinent laws, policies, and rule and regulations in the conduct of its operations

This is used by the private sector but applied by GOCCS with proprietary functions

All transactions pertaining to appropriation, allotments and obligations should be properly recorded in the pertinent books of accounts.

Is receiving payment for resources not actually delivered. One form is employee who do not render service but receive pay

It is the traditional financial audit in government. It is a combination of financial audit and compliance audit. -

This function elevates and meaningfully strengthens the once passive role of the government auditor relative to excesses and irregularities in government transactions. -

Where COA shall preserve the vouchers, particularly the general accounts of the government.

Accounting and auditing are not the same thing. Even though they are closely linked, they are dis from one another

Audit phase involves reviews of invoices, contracts, purchase orders, and other requests for fund: substantiate a transaction or series of transactions before they are executed and recorded.

t is the examination of financial transactions before their consummation or payment. It is basically a cont device and hence an integral part of accounting which is a managerial function.

Is what the COA does. The COA Auditors are independent of the audited agency. -

Risk management is important in government auditing as it enables us to use our resources more effectively and enhances strategic and business planning, as well as contingency planning

The following are the methods of government accounting, except: -

The analytical and systematic examination and verification of financial transactions, operations, accounts reports of any government agency for the purpose of determining their accuracy, integrity, and authentic classifying the requirements of law, rules, and regulations. -

Potential suppliers would establish beforehand the bid winner and the winning price, other fi submit non-competitive bids for the show alone.

.It is defined as the art of analyzing, recording, classifying, and summarizing and communic significant manner, and in terms of money, all transactions and events involving government funds b. State auditing property, and interpreting the results thereof. -

State accounting involves the following activities, except:

.Contracts of whatever which are entered into by the govt. agencies w/o the necessary appropriation are void

With this of the COA, the country's executive, and legislative arms are kept posted on the __ of the government. -

COA exercises adjudicatory power. Any party, whether a public officer or private person the decision, order, or ruling of the Commission, may elevate the matter to the Supreme Court

Where public assets or the service of employees may be stolen for private use.

.It is an evaluation of the extent to which the agency has complied with pertinent laws and regulations in the conduct of its operations

.It is committed when parties involved come from within and outside the bureaucracy

All transactions pertaining to appropriation, allotments, and obligations should be properly recorded in the pertinent books of accounts.

The following are the objectives of government accounting, except -